Iran’s Fanavaran to shut Bandar Imam methanol unit for maintenance

SINGAPORE (ICIS)--Iran’s Fanavaran Petrochemical will shut its 1m tonne/year methanol plant in Bandar Imam Khomeini for a month-long maintenance on 12 April, a company source said on Thursday.

The turnaround is expected to last till 12 May, according to the source.

Market participants said the shutdown might tighten supply as Fanavaran is a major spot market supplier to China and India.

According to the supplier, freight rates from Iran to India were around $65-75/tonne and around $90-95/tonne for main ports in China. The higher than usual freight rates were due to limited shipowners calling on Iranian ports due to the UN sanctions, both suppliers and buyers said.